What The Government Spent Money On Last Quarter

Those following the ever encroaching progression of the US welfare state will hardly be surprised by the latest data on US government spending broken down by the 11 largest outlays: spending on almost everything was down or unchanged in the first fiscal quarter of 2014 compared to a year ago except for healthcare and, of course, social security, which has finally caught up with the government's medicare and medicaid outlays. The good news: as a result of still low interest rates, and the Fed's check-kiting remittance of interest on monetized debt, Treasury outlays have tumbled to less than $100 billion in the quarter. This number will not stay this low for long.